KARACHI: The eTurbo, a Pakistani ebikes startup, announced Tuesday it would increase domestic production from current 30 percent to 80 percent within five years, as part of a comprehensive expansion plan to tap into the international market.
The eTurbo, which manufactures ebikes, outlined a multi-phase localisation plan to develop domestic supply chains and reduce import dependencies.
“Our plan involves developing local partnerships and investing in domestic manufacturing capabilities to build a more sustainable, cost-effective supply chain,” CEO eTurbo Osama Sheikh told Business Recorder.
He said that they were striving to establish new dealership networks across urban and rural areas of Pakistan and developing charging infrastructure to support growing electric vehicle adoption.
Aiming to strengthen Pakistan’s position in the global ebikes markets, CEO eTurbo said that they had currently invested Rs. 500 million and have a plan to establish Pakistan as a major e-bike exporting nation by investing Rs. 1000 million more to incorporate more advanced technology in its production facilities to meet international standards and forming partnerships with key global markets.
“The local market potential for e-bikes is immense, economically and environmentally. High fuel prices and urban congestion make e-bikes a cost-effective, eco-friendly alternative, especially for daily commuters,” CEO eTurbo said. Replying to a question, he said that the benefits of increased localization would be passed on to consumers through more competitive pricing, making ebikes more accessible to the Pakistani market in the coming years.
“High duty on imported parts increases the cost of production and restrains accessibility for consumers,” he said, urging the government to allow subsidies, especially on imports, and play “a transformative role” in EV industry growth.
Moreover, Osama informed that the company was also planning to introduce several new eTurbo variants in the coming years.
Copyright Business Recorder, 2024
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